(MENAFN) Al-Tayyar Travel Group Holding Company purchased a five-star hotel worth USD399.77 million in Makkah, Saudi Gazette reported.
The company said that financing from Arab National Bank was about USD327.81 million and will be paid in 20 years' time through half-yearly installments.
The hotel has 759 rooms and suites of diverse sizes, it also includes three big restaurants spread across 24 stories, marking it as a well-established property to welcome visitants.
Al-Tayyar Group said that the deal comes within its strategy to develop the Haj and Umrah sector, as the property is a novel one among Makkah's hotels.
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